Missouri’s economy is projected to generate more than 171 thousand jobs over the 2006‐2016 period—an 5.8 percent increase, which is slightly lower than the 8 percent increase of the previous 10‐year period. Wage and salary jobs—projected to increase by 6.1 percent—will account for all of the projected increase.
The number of jobs for self‐employed and unpaid family workers is projected to increase by about 3,092, or 1.5 percent, significantly less than the 6.1 percent projected growth in jobs for wage and salaried workers.
Non‐farm, service‐providing industries are expected to continue to account for most jobs and most job growth during the projections decade. This is due, in part, to the increasing demand for services and the difficulty of automating many service tasks. Non‐farm, goods‐producing industries are expected to have about the same number of jobs in 2016 as they did in 2006. Goods‐producing employment is affected significantly by the business cycle (economic recessions and expansions).
The Health Care and Social Assistance and Retail industry super sectors encompassed over 23 percent of Missouri’s employment in 2006.
In terms of employment change, Healthcare and Social Assistance, Accommodation, Professional, Scientific, and Technical Services, and Waste Management each is projected to add over 15,000 jobs.
Three of the ten fastest‐growing detailed industries over 2006‐16 are related to financial services.
Public school systems will continue to need workers as its aging workforce reaches retirement, especially in the fastest growing areas of the state. The growth in employment services reflects industries’ greater reliance on temporary and contract workers. No longer are temps limited to administrative‐type jobs, but are now found in great numbers throughout all the professions, including health care, managerial, and production jobs. The aging of the population is reflected in these numbers as well, with large increases in offices of physicians and general medical and surgical hospitals.
Several of the fastest declining industries are in manufacturing, but two of the fastest are in the service sector industry ‐ printing services and publishing, which is due to the increase in the availability of home and private publishing software.
New jobs created as employment grows are only one source of job openings. In most occupations, more job openings are created when workers permanently leave the occupation and must be replaced. While most replacement openings over the next 10 years will be due to workers retiring, other replacement openings are due to the high numbers of high school and college part‐time workers, such as waiters and waitresses, who need to be replaced when the students leave to find permanent employment.
Three of the ten fastest growing occupations in Missouri are health‐care related while two of the occupations are IT related careers.
Occupational employment declines generally stem from changes in technology or business practices, or declines in industries in which the occupation is concentrated. Declining industry employment is the major cause of the projected decline for assemblers and fabricators. Office automation will cause rapid declines in employment of file clerks, order clerks, and secretaries.
Source: Meric
____________________________________________
Related Post:
